Willkie’s Project Finance & Investment team in Paris advised the leading infrastructure investor Meridiam in connection with its investment in the French EV-battery start-up Verkor as part of the record €2 billion Series C fundraising for the financing of its first battery gigafactory in Dunkirk, France.

The gigafactory will enter into operation in 2025 and will have an initial production capacity of 16 GWh per year, 12 GWh of which have already been secured through a long-term off-take commitment by Renault.

The deal is a landmark energy transition venture for Meridiam and follows a series of significant energy transition projects in which Willkie’s Project Finance & Investment practice has been involved in over the years, highlighting the firm’s extensive experience in the field and commitment to accompanying clients on the low-carbon pathway.

The Willkie team was led by partners Amir Jahanguiri and Grégoire Finance with counsel Antoine Bouzanquet and included partner Faustine Viala and associates Charles Bodreau and Marie Filippi.